Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,000 salvage value. 1 Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. polnts еВok Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Compute the machine's book value at the end of its second year. Print Book Value at the End of Year 2: Cost Accumulated depreciation 2 years Book value at point of revision References
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,000 salvage value. 1 Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. polnts еВok Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Compute the machine's book value at the end of its second year. Print Book Value at the End of Year 2: Cost Accumulated depreciation 2 years Book value at point of revision References
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section: Chapter Questions
Problem 1AFE
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